Rule 14-913. Payment of reimbursement.
(a) The Board may, fromtime to time, fix a maximum amount of reimbursement that is payable by theFund. Initially, the maximum amount shall be $10,000 per claim and $25,000total dollars within any given calendar year with regard to an individuallawyer or licensed paralegal practitioner.
(a)(1) There shall be alifetime claim limit of $425,000 per lawyer or licensed paralegal practitioner.
(b) Claimant shall bereimbursed for losses in amounts to be determined by the Board afterrecommendations by the Committee. Reimbursement shall not include interest andother incidental and out-of-pocket expenses.
(c) Payment ofreimbursement shall be made in such amounts and at such time as theBoard approves and may be paid in lump sum or installment amounts. In the eventthat the Committee determines that there is a substantial likelihood thatclaims against the lawyer or licensed paralegal practitioner may exceed eitherthe annual or lifetime claim limits, claims may be paid on a pro rata basis orotherwise as the Board and the Committee determine is equitable under thecircumstances.
(d) If a claimant is aminor or an incompetent, the reimbursement may be paid to any properand legally recognized person or authorized entity for the benefit of theclaimant.
Advisory Committee Notes
Rule 14-913 Amendment Note: The Bar changed from a calendar yearto a fiscal year (July 1 to June 30) in 1990.
The Board approved increasing the yearly per claim award limitfrom $10,000 to $20,000 and to eliminate the yearly per lawyer claim limit of$25,000 on December 1, 2000.
The Board voted to reinstate the yearly lawyer cap of $25,000 onJune 8, 2001.
The Board voted to raise the yearly per lawyer cap to $50,000 fromthe previously reinstated $25,000 cap on December 7, 2001.
The Board voted to raise the yearly per lawyer cap to $75,000 onOctober 29, 2010.
Effective May 1, 2019